Sustainable Value Creation
Hyundai E&C has declared the “creation of a sustainable habitat for humanity” as its vision of sustainable management, and dedicates its utmost efforts to enhance the happiness of humanity in addition to corporate value.
As a global construction company, Hyundai E&C aims to provide future solutions through its sustainable construction products and environment-friendly construction technology with the sustainability management vision of ‘Creating Sustainable Habitat for Human’.
Sustainability Management Vision & Strategy
Top 4 Goals
Creating a Sustainable Base of Life for Mankind:1>New era of prosperity to be created by Hyundai E&C(HDEC PROSPERITY), 2>New era of green environment to be led by Hyundai E&C(HDEC PLANET),3>New era of co-existence with Hyundai E&C(HDEC PEOPLE)
Twelve Propelling Strategies
Enhancing Global Competitiveness
- Based on its differentiated technology and proven business track record, Hyundai E&C will lead the future markets by transforming into Total Solution Creator covering all areas of construction.
Innovating Core Technology and Service
- Hyundai E&C strives to provide customer-centric services by focusing on securing core technologies to lead the era of the fourth industrial revolution.
Responding to Climate Change
- Hyundai E&C is committed to responding to climate change by seeking green, low-carbon transition of its businesses aligned with its future business strategy and recognized for its industry-leading competitiveness in responding to climate change.
Realizing Eco-friendly Construction
- Hyundai E&C is focused on using smart construction technologies to build green construction process and minimize environmental impact while improving construction efficiency.
Cultivating Innovative Talents
- Hyundai E&C is strengthening its future competitiveness by fostering and developing innovative talents, which is the driving force behind its corporate growth and development.
Enhancing Value Chain Capability
- Hyundai E&C strives to establish a joint growth system based on cooperation through sustainable supply chain management.
Improving Safety & Health Implementation
- Hyundai E&C makes “safety” a top priority in corporate management and strives to establish a safety culture and enhance safety performance by building systematic infrastructure and system.
Advancing Strategic Social Contribution
- Hyundai E&C, as a global builder which has grown together with the Korean people, is actively engaging local communities through strategic CSR activities, seeking win-win growth.
Establishing Sound Governance
- Hyundai E&C has built a sound and transparent governance structure based on the three principles of board independence, management expertise, and stakeholder value enhancement.
Internalizing Compliance Ethical Management
- Hyundai E&C is building trusted relationship with stakeholders through ethical management activities and fair trade compliance by strengthening compliance and ethical management from employees to subsidiaries, subcontractors, and business partners.
Managing Risk Proactively
- Hyundai E&C effectively improves business stability through preemptive risk management and is exploring new business opportunities based on long-term strategic risk analysis.
Protecting Human Rights in Value Chain
- Hyundai E&C has established the highest level of human rights management standards to respect and protect the rights of all stakeholders and is compliant with the human rights regulations of the country where it operates.
Activity · Performance of Corporate Sustainability Management
Hyundai E&C has diagnosed its home and abroad sustainable capacity and internal improvement activities by participating in the Dow Jones Sustainability Indices (DJSI) evaluation to practically achieve sustainable growth. As a domestic listed company, we also make public the evaluation result to Korea’s top ESG evaluation agency, Korea Corporate Governance Service (KCGS) to inspect our corporate sustainability management level in social responsibility and environment management objectively. We also endeavor to provide our shareholders and stakeholders with objective corporate sustainability management information. To this end, we engage in public disclosure and evaluation where global guidelines and UN Sustainable Development Goals (SDGs) are considered, including Global Reporting Initiative (GRI), recommendation of Task Force on Climate-related Financial Disclosures (TCFD), and standard of Sustainability Accounting Standards. Board (SASB).
Dow Jones Sustainability Indices (DJSI)
- DJSI Industry Leader (2011, 2013, 2014, 2015, 2016, 2017, 2018, 2020, 2021)
- DJSI World (12 consecutive years)
- DJSI Asia-Pacific (12 consecutive years)
- DJSI Korea (13 consecutive years)
The DJSI evaluation hosted by S&P Dow Jones Indices, SAM (S&P Global Switzerland SA) in collaboration with Korea Productivity Center (KPC), Hyundai E&C has been nominated as construction industry world leader in 2011, 2013, 2014, 2015, 2016, 2017, 2018, 2020 and 2021. We entered DJSI Korea and DJSI World in 2009 and 2010, respectively. Since having entered DJSI Asia-Pacific, we have maintained our position for 12 consecutive years. It means our continuous system improvement and corporate sustainability management activities have been recognized.
Evaluation of Korea Corporate Governance Service (KCGS)
The assessment system consists of 7 levels (S/A+/A/B+/B/C/D), The Korea Corporate Governance Service is adequately equipped with the system aligned with the environmental, social, and governance model standards (less likelihood for undermining shareholder value with an excellent sustainable management system).
|Evaluation area(Governance structure)
Overseas(Institutional shareholder Sevices)
Score Index:A score in the 1st decile(QS:1) indicates relatively higher quality governance practices and relatively lower governance risk, and, conversely, a score in the 1-th decile (QS:10) indicaties relatively higher governance risk.
|ISS Govemance Quality Score
Award of CDP(Carbon Disclosure Project)
- Registered into the hall of fame at CDP korea (2018~2021).
- Won the award of “carbon management honors club.” (ranked first in all areas, 5 consecutive years from to 2014 the 2018).
- Won the award of “carbon management sector winners” (ranked first in the industry, 7 consecutive years from to 2012 bid).
- Won “carbon management special award” as a newcomer (2011).
As the world's most reliable global sustainable index, the cdp evaluation evaluates, analyzes, and reports climate change response activities of major global listed companies every year.
Award of CRRA
- CRReporting Award'12 - Best integrated report, 1st Runner-up
- CRReporting Award'11 - Best 1st time report, 2nd Runner-up
Corporate Register Reporting Awards (CRRA) is an international award where it solely evaluates corporate responsibility reports issued worldwide at a professional level. The evaluation is conducted fairly via online voting of about 37,000 global voters.
OECD Guideline for Multinational Enterprise
- OECD Guidline for Multinational Enterprises
United Nations Global Compact (UNGC) is an international agreement made by the former UN secretary-general Kofi Annan in 2000 to urge enterprises to support and execute social responsibility. Since its official joining in UNGC on April, 2010, Hyundai E&C turned into a company responsible for the global community both in reality and in name.
You can see our previous Sustainability reports
on the HDEC Library page.
Implementation of Declaration on Coal Exit (As of Q4 2021)
- Exclusion of new coal business
As of January 22, 2021, we decided not to participate in new coal business through the resolution of the BoD.
We will stop contracting the project related to the coal power plant such as the infrastructure construction work as well as the EPC works(main business).
- Hyundai E&C’s Coal Exit Policy is reflected in 2021 Sustainability Report to declare our commitment.
- Vietnam Quang Trach PKG-2 (Plant main biz), Bangladesh Matarbari PKG-2 (Infra sub biz)
- Expanding our portfolio for renewable energy & eco-friendly business
On January, 2021, we have reorganized our existing energy division’s coal-fired power sales organization.
We have developed the “Hyundai E&C’s Vision 2030 Strategy”, which is including the new growth projects such as the business of renewable energy and green, and we are proceeding with the business, accordingly.
- New 2 teams (renewable energy sales), strengthening fuel cells and wind power business functions
- Hydrogen Plant, Offshore Wind Power, CCUS(Carbon Capture, Utilization and Storage) and Renewable Energy Aggregation Business(PPA-based)
- Eco-business’investment & Social Contribution
- We are planning to expand investment in green business by issuing ESG bonds before 2025.
We will continue to expand and promote social contribution projects in HSE sector.
- Review the third-party standards such as Taxonomy(EU, Korea), external credit rating agencies’ criteria and etc.
* ESG bonds will be issued after reviewing changes in the market environment.
- Energy Efficiency Improvement Project with Seoul city (H-Green Saving)
- Promotion of environmental campaigns with employee engagement (Green Mileage, etc.)
- Propelling of Environmental Management
- In October 2022, Hyundai E&C declared Net Zero by 2045 and published a report called 'Global Green One Pioneer: Net Zero by 2045
We will continue to practice disclosure of information related ESG environmental management.
- Advancement of GHG management system, review of construction-site reduction programs, establishing low-carbon portfolio-linked reduction scenarios
- Sustainable Product Sales, TCFD/WEF/SASB reporting guidance, Water usage & Biodiversity information etc.
Sustainability Management Policy